SK Group acquire a 37.5% interest in Caldita and Barossa from Santos and ConocoPhillips
On 7 June 2012 ConocoPhillips and Santos announced that SK Group would take a 37.5% interest in the Barossa and Caldita gas-condensate fields. The initial consideration for the deal is US$260 million. An additional equity farm-down and payments of up to US$200 million could also be made if the fields progress to development. ConocoPhillips will remain operator, though its equity in the fields will drop from 60% to 37.5%. Santos' stake will fall from 40% to 25%.The Barossa and ...